Search results

This study aims to examine whether a good corporate reputation leads to superior investment returns. Theory and empirics provide support for the idea that a good corporate reputation improves firm value, but much of the previous research fails to consider the risk of the companies they study and relies only on accounting measures of performance such as return on assets. A complete picture of the relationship between corporate reputation and shareholder value should include risk-adjusted returns and correlation with benchmark returns.

The Harris Poll Reputation Quotient (RQ), based on the reputations of the 100 most visible companies, suggests that companies with a “solid reputation” are more likely to be attractive investments. The authors construct portfolios using deciles and the RQ categories, rebalancing annually as RQ rankings are updated. Returns are adjusted for risk using Jensen's alpha, the information ratio, the Sharpe ratio, Modigliani and Modigliani's M2 measure, and Muralidhar's M3 measure.

The results indicate that choosing a portfolio based on the highest RQ-ranked firms does outperform the market on a risk-adjusted basis, and that the relationship between rankings and time-weighted returns is roughly monotonic. The authors also observe that corporate reputation is persistent, and that the best and worst most-visible firms are more likely to be privately held.

This research adds to the literature by including both market-based return measures and risk in the examination of the relationship between corporate reputation and financial performance.

This paper studies the efficacy of using moving average technical trading rules with currencies of emerging economies. If technical trading rules are successful, they can become a risk management tool for multinational firms and investors in emerging markets. Typical risk management tools such as forwards, futures, and options are not sufficiently active in emerging currency markets. In this paper we use four Variable Length Moving Average (VMA) trading models and compare them to a simple buy and hold strategy. Results support the effectiveness of our trading models, which imply the presence of strong serial correlation among currency returns for emerging markets. As a result, the predictability of future currency prices will allow investors to create effective hedges in the often volatile emerging markets.

Outlines previous research on stock market efficiency and technical trading rules in both developed and emerging markets. Uses variable moving average (VMA) models to develop five technical trading rules and applies them to markets in Taiwan, Thailand and The Phillippines 1994‐1999. Compares results with the US and Japan indices and a simple buy and hold strategy. Finds the VMA rules gave higher returns in Taiwan and very much higher returns in Thailand and The Phillippines, even after transaction costs, but not in Japan and the USA. Considers the reasons why and calls for further research.

As the world struggled to come to grips with the Covid-19 pandemic, over twenty scholars, practitioners, and global leaders wrote brief essays for this curated chapter on the role of global leadership in this extreme example of a global crisis. Their thoughts span helpful theoretical breakthroughs to essential, pragmatic adaptations by companies.

Professional careers have become more precarious in recent decades. Corporations today engage in downsizing even during profitable times, a practice that impacts workers throughout the labor force, including those with advanced degrees. Using a case study of women geoscientists in the oil and gas industry, I investigate how the increasing precariousness of professional careers reinforces gender inequality. The compressed cycle of booms and busts in the oil and gas industry permits an investigation into how women fare in precarious professional jobs. Extending gendered organization theory, I argue that three mechanisms are built into professional careers today that enhance women’s vulnerability to layoffs: teamwork, career maps, and networking. I illustrate how these mechanisms disadvantage women with in-depth portraits of three geoscientists who lost their jobs during the recent downturn in oil prices. Their personal narratives, collected over a 3-year period of boom and bust, reveal how a particular multinational corporation is structured in ways that favor the white men who dominate their industry. The rhetoric of diversity obscures the workings of gendered organizations during good times, but when times get tough, management’s decisions about whom to lay off belies the routine practices the reproduce men’s advantages within the industry.

This article aims to investigate prototypes of excellent performance in IT consulting and to examine the gender typing of the critical attributes used in prototyping.

Exploratory qualitative data were collected from focus group sessions and interviews of employees of a large international IT consulting firm. Responses were coded according to the gender typing of elicited attributes and content analysis was used to examine responses across stakeholders and levels.

The picture that emerged of a “top performer” covered a variety of skills and attributes, and overall was somewhat masculine‐typed. An employee's own characterization of excellent performance in his/her own job level was not necessarily congruent with other stakeholders' perceptions.

Data were collected from only one US‐based company and client perceptions were not directly assessed. Future research is needed to establish how prototypes impact performance evaluations and employee outcomes.

List of top performer attributes suggests ways in which IS/IT curricula could be improved, and also will be useful for recruitment and development of top performers.

This paper goes beyond identifying necessary skill sets to examine what “excellence” means to various stakeholders. It suggests it may be critical to understand how employees match up, or not, to this prototype.

Well-functioning institutions are repeatedly claimed to attract foreign direct investment (FDI) by reducing the costs and uncertainty of economic activity. Nonetheless, it has been argued that institutions may matter less for FDI in the primary sector. This study aims to theoretically and empirically investigate the role of institutions for attracting FDI in agricultural and in extractive activities.

This study uses worldwide country and sector-level data on inward FDI for the period 1996–2007. The key independent variables, property rights protection, corruption and democracy, are measured using World Bank Governance Indicators and Polity IV as data sources. Fixed effect panel regression, Tobit regression and generalized method of moments are used for data analysis.

The authors corroborate the importance of institutions for aggregate FDI. Disaggregating by primary subsector, the authors find that agricultural FDI, like aggregate FDI, is attracted by institutional features such as rule of law and property rights protection and democracy, whereas extractive FDI is not. The authors also find some evidence that corruption deters FDI in both primary subsectors.

The authors take a first step toward linking the largely empirical institutions-FDI literature more closely with the economics-based theoretical discussions of FDI risk grounded on a property rights approach, to discuss issues such as effective control rights over investments, which may vary between sectors. The authors also explore a novel idea that extractive activities may be less sensitive to institutions because the time horizon is limited by the depletion of the resource, resulting in an inherently relatively short-term commitment to a host-country location.